wiar 12-13-18

Mary FanslauWhat I Am Reading

December 13 (Thursday)

Markets
Dow rises more than 150 points on trade-deal hopes, but closes well off session highs (C)
The Great Cheapening: Global Stock Valuations Now at Five-Year Lows (W)
Small-Cap Stocks on Edge of a Bear Market (W)
Corporate Bonds Are Selling Off at the Fastest Pace Since 2016 (B)
Private Equity Seen as Top Investment for Endowments in 2019 (B)

Central banks
U.S. Consumer Prices Flat in November, Posing Dilemma for Fed (W)
ECB Stimulus’s Mixed Legacy: Economic Success, Political Fiasco (W)

US
Nearly half of corporate CFOs are expecting a US recession by the end of 2019 (C)
No recession — if Fed doesn’t screw up, says MarketWatch forecaster of the month (MW)

Europe
U.K.’s Theresa May Survives Party Confidence Vote by 200 to 117 (B)

China
China’s Rich Rush to Shelter $1 Trillion From New Taxes (B)

US politics
Prosecutors Bolster Case for Trump’s Involvement in Hush-Money Payments (W)
Kelly’s Exit Only a Part of Looming White House Staff Remake (W)
GM CEO Is Under Fire From Trump, Lawmakers Over Restructuring (W)

Geopolitics & trade I
China looks like it’s going to give Trump a huge symbolic trade war win, fueling hope for a big deal (BI)
China to Consider Delaying High-Tech ‘Made in China 2025’ Plans (B)
China Makes Moves to Address U.S. Economic Concerns (W)
China Prepares to Increase Access for Foreign Companies (W)
FBI Says China’s Espionage Poses ‘Severe’ Threat to U.S. Security (W)

Geopolitics & trade II
Trump says he’ll step in over Huawei executive if needed, cites progress over trade (MW)
Huawei Drama Sparks Concern Canada’s Exports Could Become Target (B)
This could be the best measure of how well trade talks are going between the US and China (C)
China bought 500,000 tons of U.S. soybeans. But that’s just a drop in the U.S. export bucket (C)

Industries & companies
FAANGs: Apple now has dozens of doctors on staff, showing it’s serious about health tech (C)
Financials: Banks Get Kinder, Gentler Treatment Under Trump (W)
Retail: CVS takes on Amazon, Walgreens and health-care industry in pivotal shift (C)

Corporate finance
Germany Intensifies Plans to Fix Deutsche Bank With Merger (B)
China’s Tencent Music climbs 11 percent in US market debut (NYP)

Offbeat
Morgan Stanley is serious about investing in outer space and just had its first conference about it (C)